NEW YORK — First Citizens Bank’s Healthcare Finance business provided $24.9 million to RX Health & Science Trust and Transwestern Investment Group for the recapitalization of Copper Point, a medical outpatient building located in Phoenix, Arizona.
The two-story multi-tenant facility located adjacent to the Mercy Gilbert Medical Center campus offers a diversified set of medical services including oncology, primary care, physical therapy, pediatrics, dermatology, and laboratory services.
“Copper Point is a solid example of the quality medical office buildings we aim to bring to communities,” said Russell Brenner, President, RX Health & Science Trust. “We appreciate the diligence and expertise of First Citizens Bank’s Healthcare Finance team in creating the right financing solution for this transaction.”
“We are delighted to support RX Health & Science Trust with this financing so they can continue to build their high-quality portfolio of medical office buildings and pursue their growth objectives,” said William Douglass, group head for Healthcare Finance.
“This transaction is an example of the deep relationships we foster with our clients that enable us to support them through various business endeavors,” said Steve Reedy, a managing director and head of medical office banking in Healthcare Finance.
